*Missouri Governor Michael L. Parson*

Office of Communications

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*FOR IMMEDIATE RELEASE*

December 10, 2020

*Governor Parson Announces FY 2022 Consensus Revenue Estimate *

*(JEFFERSON CITY, MO)* Today, Governor Mike Parson announced the states Consensus Revenue Estimate (CRE) for Fiscal Year 2022.

The annual CRE is a figure established by state budget experts and outside consultants and is one of the basic assumptions used by the Governor and legislative leaders to build and balance Missouris budget.

I want to thank Senator Dan Hegeman and Representative Cody Smith for their hard work and cooperation in developing this revenue estimate, *Governor Parson* said.COVID-19 has had an overwhelming impact on our economy, but we are already making a strong recovery and remain optimistic for the coming year. We look forward to working with the General Assembly this session to create a balanced and responsible budget for the people of Missouri.

The key figure in the CRE is the projected general revenue collections. Net generalrevenue collections in FY22 are expected to be $9.78 billion. This represents a net decrease of $418.8 million over the estimated revenue for FY21.

The estimate for FY22 assumes a decrease of 4.1 percent. The revised estimate for the current fiscal year (FY21)is $10.2 billion.This estimate is artificially high due to the income tax filing date being moved from April 15in FY20 to July 15in FY21, resulting in two income tax filing dates in FY21. The FY22 estimate reflects a return to a single filing date in the fiscal year.

I am pleased we were able to arrive at a consensus revenue estimate for FY22. The House, Senate, and Governor stand ready to work together to address the needs of Missourians as we recover from the COVID-19 pandemic, said *Senator Dan Hegeman*, *Senate Appropriations Chairman*.

We are in the midst of themost trying economictimes in a generation. Forecasting revenue growth is particularly challenging this year.Therefore,I'm pleased to put forward a conservative revenue estimate to which theHouse, Senate, and Governor have agreed, said *Representative Cody Smith*,*House Budget Chairman*.

Governor Parson will detail his proposed budget for FY22 during the State of the State address in January.

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*Contact: Kelli R. Jones*

Communications Director

Work: 573-751-0765

Mobile: 573-508-9072

Email: [email protected]

Website: www.governor.mo.gov


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